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## income-tax

0.1.0 • Public • Published

# Income Tax Calculator - UK (2018/2019)

Calculate the amount of payable tax on a UK income for tax years 2018/2019.

Note: This library is still in the early stages of development and some functionality may be untested / undocumented.

# Personal Allowance

Your personal allowance is the amount of income allowed before tax. The most common allowance is £11,850, so for an income of £75,000 only £63,150 would be taxable.

The allowance is calculated based on the amount of income before tax:

• `0 - £100,000` - £11,850
• `£100,000 - £127,300` - £1 less than £11,850 every £2 above £100,000 until £0
• `£100,000+` - £0

If you're registered blind you'll get an additional allowance of £2390.

# Income Tax

Tax is calculated from your taxable income and is calculated at different rates for certain income brackets:

• `£0 - £11,850` - 0%
• `£11,851 - £46,350` - 20%
• `£46,351 - £150,000` - 40%
• `more than £150,000` - 45%

So for an income of £75,000, £63,150 is taxable, you pay £6900 of tax at 20%, £11,460 at 40%, whilst nothing at 45% meaning tax payable is £18,360 so your net is £56,440.

# Reference

### IncomeTax

IncomeTax is a class which can be invoked to calculate different income tax factors.

##### Parameters:
• `income` (number) the amount of income before tax or deductions
• `opts` (object) optional parameters to adjust the calculations
• `isBlind` (boolean) incorporate blind person allowance?

## Keywords

### Install

`npm i income-tax`

1

0.1.0

MIT

23.2 kB

18

### Repository

github.com/Isolated-/income-tax-calculator